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i wrote this woman i met recently. an unemployed economist. as am i. we have parallel roots. she made it to Chicago school of Econ disaster Capitalism. i snuck thru Illinois...in a maze of confusion. where i realized Economics was a Religion and not a science. i became a poet as my personal shock therapy. Still in shock, i wrote to her:
Can you help me? Remember?
Goolsbie's messiah? starts with a P. ( taught at Chicago )
Nor can i.
here is your ultimate mentor, Friedman,
"Inflation is always and everywhere a monetary phenomenon."
— Milton Friedman, 1963.
Sheeeesh: what is wrote last week on this was that if money always loses purchasing power (inflation) and the Earth stays the same, size-wise, pretty soon, or at least someday, the pile of money needed for a loaf of bread will exceed the carrying capacity of the planet...sooner or later, so...
Friedman, who died mercifully at 94 in Frisco, ugh, maybe our greatest day, would turn over in his grave. Hayak also. and Schmidty and Heidegger, for if money is based upon debt as it is here and in EU. then each dollar is discounted by a certain percentage, for skimming by the 2 big 2 fails...enumerated at the FED by its posted 28 members...and thus prices will always go up. so what? you might say. well. the rich, say: the Upper 10,000, already own 90-something % of the Earth. yes they do. and so for what do they need mo-nay? no reason. all they need now are bullets and the willingness for 1/2 the poor to go out and kill the other 1/2...and, after burying the bodies, another 1/2 to go out and kill half the remainder. hopefully by that time the people will all wake up and, hungry as they will be, go out and eat the rich.
then we can build up a currency based upon the blood sweat and tears of the poor.
so what it is? hayak or keynes. you chicago, immersed in the ghetto of ghettoes, or me illinois, surrounded by corn...